Clarivate Plc (NYSE:CLVT) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lessened its position in shares of Clarivate Plc (NYSE:CLVT) by 30.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 199,343 shares of the company’s stock after selling 86,151 shares during the quarter. Jane Street Group LLC’s holdings in Clarivate were worth $1,415,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Clarivate by 29.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,992 shares of the company’s stock worth $404,000 after purchasing an additional 16,261 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Clarivate by 5.6% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,557 shares of the company’s stock worth $168,000 after purchasing an additional 1,580 shares during the last quarter. Forum Financial Management LP acquired a new position in Clarivate in the second quarter valued at $75,000. Arizona State Retirement System raised its holdings in shares of Clarivate by 2.5% in the second quarter. Arizona State Retirement System now owns 84,172 shares of the company’s stock valued at $479,000 after buying an additional 2,064 shares during the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of Clarivate by 749.2% during the second quarter. Headlands Technologies LLC now owns 14,632 shares of the company’s stock worth $83,000 after buying an additional 12,909 shares during the period. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays dropped their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. Royal Bank of Canada cut their target price on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Finally, William Blair downgraded Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Clarivate currently has a consensus rating of “Hold” and an average target price of $7.10.

Clarivate Stock Performance

NYSE:CLVT opened at $5.12 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $3.64 billion, a P/E ratio of -2.57 and a beta of 1.12. The firm has a 50-day moving average price of $5.51 and a two-hundred day moving average price of $6.02. Clarivate Plc has a twelve month low of $4.25 and a twelve month high of $9.60.

Clarivate (NYSE:CLVT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The company had revenue of $622.20 million during the quarter, compared to analysts’ expectations of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 earnings per share. As a group, research analysts expect that Clarivate Plc will post 0.63 earnings per share for the current fiscal year.

Clarivate announced that its board has initiated a share repurchase plan on Monday, December 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 12.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Clarivate news, insider Bar Veinstein sold 60,000 shares of Clarivate stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total transaction of $420,000.00. Following the transaction, the insider now directly owns 916,583 shares of the company’s stock, valued at $6,416,081. The trade was a 6.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Angelakis acquired 765,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was acquired at an average cost of $5.19 per share, with a total value of $3,970,350.00. Following the transaction, the director now directly owns 3,465,000 shares of the company’s stock, valued at approximately $17,983,350. This represents a 28.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.14% of the stock is owned by corporate insiders.

About Clarivate

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.